Macy's and JCPenney are kicking off 2019 with a string of store closings

JCPenney and Macy's kicked off the year with store closings. The two department-store chains are looking to trim down on expensive real estate to cut costs and boost growth.

Embattled retailer Sears has also announced more than 260 store closings since it filed for bankruptcy in October. With a possible liquidation looming, it may be forced to shutter its entire fleet.

Department stores are kicking off the new year with a string of store closings.

On Tuesday, JCPenney reported disappointing holiday sales numbers and announced that it would be closing three stores in the spring. More would follow, it said, adding that these would be announced in its upcoming quarterly earnings results in February.

JCPenney isn't alone. Macy's plans to close eight more stores this year as part of planned closures, which were announced in August 2016. A spokesperson for Macy's told Business Insider that announcements are being made locally and have so far have included a store in Massachusetts, its last remaining store in Wyoming, and another in Indianapolis.

These department-store chains have come under pressure as spending increasingly shifts online and foot traffic to stores slows. Retailers have filed for bankruptcy at record-high rates in recent years. 16 well-known retailers including Sears, Nine West, Toys R Us, and Mattress Firm all filed for bankruptcy protection in 2018.